Ashtead Technology (AT) Trading Update summary

Financial performance and outlook

• 2024 revenues projected at approximately £168m, surpassing analyst consensus of £167m.

• Adjusted EBITA for 2024 expected to exceed consensus of £46.6m.

• Strong trading at year-end and record customer backlogs support continued growth into 2025.

• Growth outlook for 2025 remains in line with previous guidance.

Strategic initiatives and operations

• Integration of Seatronics and J2 Subsea progressing well, contributing to growth momentum.

• Maintains one of the largest and most technologically advanced rental fleets in the industry.

• Focus on operational excellence to drive long-term shareholder value.

Market positioning and business model

• Over 85% of equipment is fungible across offshore wind and oil & gas markets.

• Operates globally from key offshore energy hubs, headquartered in the UK.

• Solutions applicable across the lifecycle of offshore wind farms and oil & gas infrastructure.